Answer:
Step-by-step explanation:
The formula for calculating the amount after t years is expressed as;
A = P(1+r/n)*nt
P is the Principal (amount invested) = $300
r is the rate = 7% = 0.07
t is the time used to save = 11 years
n is time of compounding = 1/4 (quarterly)
Substitute;
A = 300 (1+0.07/(1/4))^(1/4)(11)
A = 300(1+4(0.07))^2.75
A = 300(1+0.28)^2.75
A = 300(1.28)^2.75
A = 300(1.9716)
A = 591.49
Hence the amount that will be in her account after 11 years is $591.49
